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News of 5AM's two latest venture funds follows the launch of Longevity Vision Fund as well as LA BioMed's and RUNLABS’ announcements that they will open new incubators in 2019. Also, Passage Bio launches with $115.5m, but the largest recent VC deal was HaiHe's $146.6m financing.
Cancer drug-developer Black Diamond emerges from stealth mode with Series A and closes Series B in the same month, while aging-focused Juvenescence closes its initial tranche and looks complete Series B by the end of the quarter.
While major biotech indices went south in 2018, VC enthusiasm for biotech remained bullish. Biotech companies raised a record $22.83bn in 2018.
Novartis and Gilead longer-term data show largely steady response and survival rates, shoring up the clinical and commercial case for their products and justifying continued investment in T-cell therapies. The CAR-T pioneers discuss their progress, including with allogeneic platforms, with Scrip at ASH.
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